Financial Market Integrity Strengthening Act (FISG): What changes does the government draft bring?
In our article “Draft bill on the Financial Market Integrity Strengthening Act (FISG) – Increased controls, more sovereign…
Draft bill on the Financial Market Integrity Strengthening Act (FISG) – Increased controls, more sovereign powers and threats of punishment as a deterrent
On October 26, 2020, the German Federal Ministry of Finance (Bundesministerium der Finanzen – BMF) and the German…
BaFin inspecting general terms and conditions: What do payment and other financial services providers need to be aware of?
When drafting general terms and conditions (“T&C”), the “opponents” are generally your contractual partners as well as consumer…
BaFin Guidance Notice on planned reforms regarding members of management / supervisory bodies (part 2)
In part 1, we provided some background information to the updated BaFin guidance notices entitled “Guidance Notice on…
BaFin Guidance Notice on planned reforms regarding managing directors pursuant to the KWG, ZAG and KAGB (part 1)
BaFin is currently working on updating its “guidance notice on managing directors pursuant to the KWG, ZAG and…
Light and shadow: The revised version of the BaFin guidance note on guarantee business
On 3 April 2020, BaFin published its new guidance note on guarantee business (“New Guidance Note“). In practice,…
The EBA will be calling the shots in the future regarding anti-money laundering
On 5 February 2020, the European Banking Authority (“EBA”) published a new Consultation Paper on revised guidelines pertaining…
New regulatory requirements for outsourcing
Background. In the current context of digitisation and the increasing importance of information and financial technologies on the…
BaFin’s Instructions for the Interpretation and Application of the German Anti-Money Laundering Act (IIA)
On 11 December 2018, the German Federal Financial Supervisory Authority (hereinafter referred to as “BaFin”) published its Instructions…
Cloud computing – outsourcing into a “cloud”
Cloud computing is playing an increasingly important role as digitalisation progresses, including in the financial sector. When using…